QRG Capital Management Inc. Acquires Shares of 4,083 Bloom Energy Corporation $BE

QRG Capital Management Inc. acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,083 shares of the company’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also made changes to their positions in BE. Bayforest Capital Ltd purchased a new stake in Bloom Energy during the 1st quarter worth $2,055,000. AQR Capital Management LLC purchased a new position in Bloom Energy in the 1st quarter valued at about $1,820,000. NewEdge Advisors LLC grew its stake in shares of Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after acquiring an additional 1,626 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Bloom Energy by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after acquiring an additional 836,810 shares during the last quarter. Finally, Focus Partners Wealth increased its position in shares of Bloom Energy by 30.7% during the first quarter. Focus Partners Wealth now owns 20,063 shares of the company’s stock worth $394,000 after acquiring an additional 4,716 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the transaction, the insider directly owned 219,818 shares in the company, valued at $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the sale, the insider owned 93,269 shares in the company, valued at $13,439,130.21. The trade was a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 120,410 shares of company stock valued at $16,557,185 over the last ninety days. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

BE has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. UBS Group increased their target price on Bloom Energy to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $53.00 price target on shares of Bloom Energy in a report on Friday, October 31st. Finally, TD Cowen reissued a “hold” rating on shares of Bloom Energy in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and an average target price of $100.57.

Bloom Energy Stock Performance

Shares of BE opened at $144.63 on Friday. The stock has a market capitalization of $34.21 billion, a PE ratio of 809.06, a price-to-earnings-growth ratio of 12.26 and a beta of 3.01. The business’s fifty day moving average price is $108.30 and its 200 day moving average price is $83.65. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. Bloom Energy Corporation has a 12-month low of $15.15 and a 12-month high of $155.87.

Bloom Energy (NYSE:BE) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The firm’s revenue was up 57.1% compared to the same quarter last year. Equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.